[2021 National Audit] Financial Authority Head "Passage of Electronic Financial Transactions Act Amendment Needed"

National Assembly Political Affairs Committee State Audit

Financial Services Commission Chairman Ko Seung-beom and Financial Supervisory Service Chairman Jung Eun-bo attended the National Assembly's inspection of the Financial Services Commission held by the National Assembly's Political Affairs Committee on the 21st, and are talking before the inspection begins. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Jin-ho Kim] Ko Seung-beom, Chairman of the Financial Services Commission, stated on the 21st that he hopes the "Electronic Financial Transactions Act amendment bill will be passed" to protect user deposits of prepaid electronic payment service providers.

Chairman Ko made this remark during the National Assembly's Political Affairs Committee audit, responding to the point raised by Yoon Chang-hyun, a member of the People Power Party, that "there is a need to properly manage and supervise user deposits by prepaid service providers in light of incidents like the Merge Point scandal."

Chairman Ko said, "The amendment bill to the Electronic Financial Transactions Act includes provisions to strengthen the management of user deposits," adding, "I hope the amendment will be passed."

Jung Eun-bo, Governor of the Financial Supervisory Service, also agreed on the necessity of institutional improvements such as the passage of the amendment bill. Governor Jung stated, "Supervision under the Electronic Financial Transactions Act must be carried out, but if there is no cooperation in this regard, additional investigations become difficult."